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Wednesday, 17 June 15
PANAMAX RATE AVERAGED $22.82 PMT IN THE FIRST 10 DAYS OF JUNE FOR THE GRAIN ROUTE FROM SANTOS, BRAZIL, TO QINGDAO, CHINA - INTERMODAL
 This year, Brazil will be exporting a record 96 million tons of soybean crop and starting in August the country will begin shipping a second corn crop of approximately 51.4 million tons, also a record. The country is the world’s no. 2 exporter of both commodities, even though their logistics system is still running at a limit.
Unlike other privately controlled railways and private-use terminals for iron ore, soybean exporters have to use public roads to reach publicly managed ports, primarily Santos and Paranagua. Both still often experience bottlenecks, with long lines of trucks and ships, a common feature during the peak harvest months of April, May and June. This is without even taking into account the frequent worker strikes. But this year heavy rains in ports such as Paranagua, may also be more frequent due to the El Nino climate phenomenon and could temporarily halt loadings, jeopardizing the already heavy shipping schedules.
Nevertheless, the increased export activity can, in general, only be a good sign, even though for the time being, it is still not having a significant positive impact on freight rates for Panamaxes. The Panamax rate averaged $22.82 per metric ton in the first 10 days of June for the grain route from Santos, Brazil, to Qingdao, China, basis 60,000 metric tons, and when we look back at last’s year June average for the whole month, we see a rate of $31.10 per metric ton. This 26% drop is largely down to the difference in bunker prices, which went through a dramatic fall in recent months.
It is evident, however, that there is currently an increase in the demand for such ships in the region due to continuing shortage of vessels able to do East Coast South America (ECSA) for late June - early July dates. Fixtures basis APS delivery ECSA or basis delivery passing the Cape of Good Hope, are currently being signed at higher levels than those at the beginning of the month.
Another positive fact is that the safrinha corn crop in the second largest producing state of Parana, Brazil is also expected to do very well this year. Farmers in Parana, Brazil have harvested approximately 10% of the 1.89 million hectares of safrinha corn so far and corn yields are also exceeding expectations. The state of Mato Grosso is the largest safrinha corn producing state in Brazil and good weather during the entire growing season is resulting in increasing production estimates. In their latest report, the Mato Grosso Institute of Agricultural Economics increased both the safrinha corn acreage and the yield projections for the 2015 crop.
On the other side of the world, China, the world's largest importer of soybeans is projected to import 77.5 million metric tons of soybeans this year, which is around 4 million metric tons more than in the 2014-15 season. This is still reflecting a very strong demand, which is supported by a combination of policy constraints and stagnating yields for domestic soy production in China. This is expected to decline during 2015-2016 down to approximately 11.7 million metric tons. That shows us how important the commodity is. Basically it’s the only major agricultural crop in which China is dependent on imports for the Lion’s share of its supply.
Christopher Thomas Whitty
Marketing Manager Towage & Port Agency
Cotzias Intermodal Shipping Inc.
Compiled by:
Intermodal Research & Valuations
Analysts:
Ms. Eva Tzima
Disclaimer and legal disclosure: For any further queries please do not hesitate to contact our Research & Valuations Department. The information contained in this report has been obtained from various sources, as reported in the market. Intermodal Shipbrokers Co. believes such information to be factual and reliable without making guarantees regarding its accuracy or completeness. Whilst every care has been taken in the production of the above review, no liability can be accepted for any loss or damage incurred in any way whatsoever by any person who may seek to rely on the information and views contained in this material. This report is being produced for the internal use of the intended recipients only and no re-producing is allowed, without the prior written authorization of Intermodal Shipbrokers Co.
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Wednesday, 15 July 15
SAS TO BUILD 108 KM ROAD FOR COAL IN JAMBI, SAYS JAKARTA POST
Jambi Governor Hasan Basri Agus said on Sunday that mining company PT Sinar Anugerah Sukses (SAS) would develop a 108-kilometer road with a width o ...
Wednesday, 15 July 15
ANY FUTURE IRAN OIL DEAL WILL BOOST SUPPLY FUNDAMENTALS WITH TANKER OWNERS HOPING FROM TEHRAN TO QUICKLY BOOST ITS PRODUCTION
With the Greek “Euro-drama” apparently over, at least for now, Iran’s oil deal still remains elusive, with any potential agreemen ...
Tuesday, 14 July 15
FOB NEWCASTLE COAL SWAPS MAINTAIN OVERALL NEGATIVE TONE THIS PAST WEEK
COALspot.com: API 5 FOB Newcastle Coal swap for Q3’ 2015 delivery down $ 1.02 per MT (-2.23%) month over month to US$ 44.68 per mt. The swap ...
Tuesday, 14 July 15
CFR SOUTH CHINA COAL SWAPS DECLINE THIS PAST WEEK
COALspot.com: API 8 CFR South China Coal swap for Q3’ 2015 delivery declined US$ 1.47 (2.82%) per MT month over month.
A commodity swap ...
Monday, 13 July 15
THERMAL COAL IMPORTS SOAR 23 PER CENT TO 24.08 MILLION TONNES AT 12 MAJOR INDIAN PORTS
Import of thermal coal jumped 23 per cent to 24.08 million tonnes at 12 major ports in the first quarter of the fiscal, even as the government cont ...
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- TNB Fuel Sdn Bhd - Malaysia
- Orica Australia Pty. Ltd.
- Planning Commission, India
- Formosa Plastics Group - Taiwan
- European Bulk Services B.V. - Netherlands
- Semirara Mining and Power Corporation, Philippines
- Sojitz Corporation - Japan
- Riau Bara Harum - Indonesia
- Bukit Makmur.PT - Indonesia
- Lanco Infratech Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Cement Manufacturers Association - India
- Indo Tambangraya Megah - Indonesia
- Energy Link Ltd, New Zealand
- Central Electricity Authority - India
- TeaM Sual Corporation - Philippines
- Power Finance Corporation Ltd., India
- Pendopo Energi Batubara - Indonesia
- PTC India Limited - India
- GN Power Mariveles Coal Plant, Philippines
- Mercuria Energy - Indonesia
- GAC Shipping (India) Pvt Ltd
- Meenaskhi Energy Private Limited - India
- Orica Mining Services - Indonesia
- Australian Commodity Traders Exchange
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Miang Besar Coal Terminal - Indonesia
- Baramulti Group, Indonesia
- Kapuas Tunggal Persada - Indonesia
- Makarim & Taira - Indonesia
- Manunggal Multi Energi - Indonesia
- Grasim Industreis Ltd - India
- Economic Council, Georgia
- SMC Global Power, Philippines
- Petron Corporation, Philippines
- Goldman Sachs - Singapore
- Alfred C Toepfer International GmbH - Germany
- Indian Oil Corporation Limited
- Kepco SPC Power Corporation, Philippines
- Standard Chartered Bank - UAE
- Trasteel International SA, Italy
- Port Waratah Coal Services - Australia
- OPG Power Generation Pvt Ltd - India
- Gujarat Electricity Regulatory Commission - India
- Iligan Light & Power Inc, Philippines
- Larsen & Toubro Limited - India
- Timah Investasi Mineral - Indoneisa
- Vijayanagar Sugar Pvt Ltd - India
- Directorate Of Revenue Intelligence - India
- GVK Power & Infra Limited - India
- London Commodity Brokers - England
- San Jose City I Power Corp, Philippines
- Karaikal Port Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- South Luzon Thermal Energy Corporation
- Meralco Power Generation, Philippines
- Global Green Power PLC Corporation, Philippines
- Posco Energy - South Korea
- Bukit Asam (Persero) Tbk - Indonesia
- Energy Development Corp, Philippines
- Siam City Cement - Thailand
- Billiton Holdings Pty Ltd - Australia
- Merrill Lynch Commodities Europe
- Aditya Birla Group - India
- Gujarat Mineral Development Corp Ltd - India
- Chettinad Cement Corporation Ltd - India
- Salva Resources Pvt Ltd - India
- PetroVietnam Power Coal Import and Supply Company
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- Oldendorff Carriers - Singapore
- Global Business Power Corporation, Philippines
- Tamil Nadu electricity Board
- Indian Energy Exchange, India
- ASAPP Information Group - India
- Commonwealth Bank - Australia
- International Coal Ventures Pvt Ltd - India
- Price Waterhouse Coopers - Russia
- Heidelberg Cement - Germany
- IHS Mccloskey Coal Group - USA
- Rashtriya Ispat Nigam Limited - India
- Dalmia Cement Bharat India
- Banpu Public Company Limited - Thailand
- Uttam Galva Steels Limited - India
- Cigading International Bulk Terminal - Indonesia
- Vedanta Resources Plc - India
- Australian Coal Association
- Coalindo Energy - Indonesia
- Thai Mozambique Logistica
- Ambuja Cements Ltd - India
- Ministry of Transport, Egypt
- Eastern Coal Council - USA
- Indonesian Coal Mining Association
- Bayan Resources Tbk. - Indonesia
- Mercator Lines Limited - India
- The State Trading Corporation of India Ltd
- New Zealand Coal & Carbon
- Samtan Co., Ltd - South Korea
- Wilmar Investment Holdings
- VISA Power Limited - India
- Indika Energy - Indonesia
- India Bulls Power Limited - India
- Kalimantan Lumbung Energi - Indonesia
- Deloitte Consulting - India
- Simpson Spence & Young - Indonesia
- White Energy Company Limited
- Kohat Cement Company Ltd. - Pakistan
- Mintek Dendrill Indonesia
- Madhucon Powers Ltd - India
- Barasentosa Lestari - Indonesia
- Kaltim Prima Coal - Indonesia
- Sarangani Energy Corporation, Philippines
- Mjunction Services Limited - India
- GMR Energy Limited - India
- Neyveli Lignite Corporation Ltd, - India
- Maharashtra Electricity Regulatory Commission - India
- Singapore Mercantile Exchange
- Kumho Petrochemical, South Korea
- Wood Mackenzie - Singapore
- Binh Thuan Hamico - Vietnam
- The University of Queensland
- Leighton Contractors Pty Ltd - Australia
- Borneo Indobara - Indonesia
- Antam Resourcindo - Indonesia
- IEA Clean Coal Centre - UK
- Independent Power Producers Association of India
- Malabar Cements Ltd - India
- MS Steel International - UAE
- Bhoruka Overseas - Indonesia
- Medco Energi Mining Internasional
- Central Java Power - Indonesia
- Attock Cement Pakistan Limited
- Jaiprakash Power Ventures ltd
- Eastern Energy - Thailand
- Rio Tinto Coal - Australia
- Asmin Koalindo Tuhup - Indonesia
- Bangladesh Power Developement Board
- Chamber of Mines of South Africa
- Sree Jayajothi Cements Limited - India
- SN Aboitiz Power Inc, Philippines
- Ministry of Mines - Canada
- Tata Chemicals Ltd - India
- Parliament of New Zealand
- Indogreen Group - Indonesia
- Holcim Trading Pte Ltd - Singapore
- Globalindo Alam Lestari - Indonesia
- The Treasury - Australian Government
- Global Coal Blending Company Limited - Australia
- Thiess Contractors Indonesia
- Minerals Council of Australia
- Petrochimia International Co. Ltd.- Taiwan
- Star Paper Mills Limited - India
- SMG Consultants - Indonesia
- McConnell Dowell - Australia
- Sindya Power Generating Company Private Ltd
- Videocon Industries ltd - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Offshore Bulk Terminal Pte Ltd, Singapore
- Agrawal Coal Company - India
- Siam City Cement PLC, Thailand
- Karbindo Abesyapradhi - Indoneisa
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Africa Commodities Group - South Africa
- Directorate General of MIneral and Coal - Indonesia
- Bukit Baiduri Energy - Indonesia
- Maheswari Brothers Coal Limited - India
- Therma Luzon, Inc, Philippines
- Bhatia International Limited - India
- Bahari Cakrawala Sebuku - Indonesia
- Pipit Mutiara Jaya. PT, Indonesia
- Essar Steel Hazira Ltd - India
- Romanian Commodities Exchange
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Kideco Jaya Agung - Indonesia
- Ministry of Finance - Indonesia
- Bhushan Steel Limited - India
- Aboitiz Power Corporation - Philippines
- Bulk Trading Sa - Switzerland
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kartika Selabumi Mining - Indonesia
- Latin American Coal - Colombia
- Georgia Ports Authority, United States
- Sakthi Sugars Limited - India
- LBH Netherlands Bv - Netherlands
- PNOC Exploration Corporation - Philippines
- Interocean Group of Companies - India
- Sical Logistics Limited - India
- Jorong Barutama Greston.PT - Indonesia
- ICICI Bank Limited - India
- Renaissance Capital - South Africa
- AsiaOL BioFuels Corp., Philippines
- Anglo American - United Kingdom
- Altura Mining Limited, Indonesia
- Savvy Resources Ltd - HongKong
- CIMB Investment Bank - Malaysia
- Toyota Tsusho Corporation, Japan
- Intertek Mineral Services - Indonesia
- Electricity Generating Authority of Thailand
- Electricity Authority, New Zealand
- Sinarmas Energy and Mining - Indonesia
- Xindia Steels Limited - India
- Ind-Barath Power Infra Limited - India
- Carbofer General Trading SA - India
- Straits Asia Resources Limited - Singapore
- Coal and Oil Company - UAE
- Ceylon Electricity Board - Sri Lanka
- Gujarat Sidhee Cement - India
- Edison Trading Spa - Italy
- Semirara Mining Corp, Philippines
- CNBM International Corporation - China
- Kobexindo Tractors - Indoneisa
- Parry Sugars Refinery, India
- Vizag Seaport Private Limited - India
- Bharathi Cement Corporation - India
- Metalloyd Limited - United Kingdom
- Krishnapatnam Port Company Ltd. - India
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